The US has reinstated full sanctions against Russian offshore oil

The Donald Trump administration did not extend the exemption that allowed trade in already loaded Russian oil.

The United States has renewed sanctions against Russian oil. After the expiration of the special exemption that allowed the purchase of raw materials already loaded on tankers, the mechanism was decided not to be extended, writes Politico.

At the same time, Washington did not give a clear answer until the last moment about the future fate of the exemption, which created uncertainty for the maritime transportation market and traders. According to sources in the US Senate, even before the introduction of this relaxation, Russia actively used alternative schemes to circumvent sanctions.

“Even before the introduction of the exemption, sanctioned Russian oil entered the market, since the Trump administration for more than a year did not approve any restrictive measures that would prevent Russia from circumventing sanctions,” noted Politico’s interlocutor.

In the context of maritime logistics, this decision could complicate the operations of the so-called shadow fleet used to transport Russian oil, as well as increase risks for shipowners and insurance companies.

 At the same time, as USM reported, the easing of US sanctions has not helped Russia increase seaborne oil shipments.